Albany Road Real Estate Partners, LLC, a Delaware Limited Liability Company formed in July 2012, is a private equity real estate investment firm. Albany Road Investment Advisers, LLC (the “Adviser”) is a wholly owned subsidiary of Albany Road Real Estate Partners, LLC and conducts business under its parent company’s name. The principal owner of the Adviser is Albany Road Real Estate Partners, LLC. The principal owners of Albany Road Real Estate Partners, LLC are Christopher Knisley, Tallac Partners LLC, 1797 Partners LLC, and LM Partners LLC. Albany Road provides investment advisory services to private pooled investment vehicles and co-investment vehicles, collectively referred to as the "Funds." The objective of the Funds is to pursue investment opportunities in commercial real estate in the $20,000,000 to $50,000,000 range. The Funds will pursue a variety of product types, including assets across the office spectrum (urban, suburban, and medical), and the industrial spectrum (warehouse, distribution, flex, R&D, and self-storage). The Funds are primarily marketed to high net worth individuals and are managed by the Adviser on a discretionary basis. The investment strategies and restrictions related to each Fund are outlined in their respective private placement memorandum (the "Fund Offering Documents"). It's important to note that the Funds are considered clients of the Adviser, distinct from the underlying investors in the Funds. Investors must meet certain criteria, such as accredited investor or qualified purchaser status, to invest in the Funds. The Funds themselves are not registered under the Investment Company Act of 1940 or their interests under the Securities Act of 1933. Therefore, interests in the Funds are offered solely to Investors meeting the applicable eligibility and suitability requirements in private placement transactions within a given jurisdiction. The descriptions provided here do not constitute an offer to sell the Funds. Investors should carefully assess the investment objectives, risk tolerance, and liquidity of any Fund before making an investment decision. Delaware limited liability

companies have been established to serve as the managers (“the Managers”) of the Funds. The Managers are related persons of Albany Road and are under common control with Albany Road. The Managers are subject to the Investment Advisers Act of 1940, as amended (the “Advisers Act”) pursuant to the Adviser’s registration in accordance with SEC guidance. This Brochure also describes the business practices of the Managers, operating as a single advisory business together with the Adviser. The respective manager of each Fund has complete discretion and exclusive responsibility and authority for all investment making decisions of such Fund. The investment objectives of each Fund are set forth in their private placement memorandum, LLC operating agreement, subscription agreement, and/or related agreements (“Governing Documents”) that specify the specific investment guidelines and investment restrictions applicable to each Fund. Albany Road tailors its investment advice to the Funds in accordance with each Funds’ investment objectives and strategy as set forth in the Funds’ Governing Documents. Albany Road typically does not tailor its advisory services to the individual needs of Fund investors (“Investors”) and, except as noted below, does not accept any investment restrictions from Investors as they relate to the Fund. Generally, the Investors in each Fund are not able to negotiate the terms of each Fund’s Governing Documents in connection with their investments in such Fund. In certain cases, the Manager has entered into side letter agreements with certain Investors in a Fund establishing rights under, or supplementing or altering the terms of, each Fund’s Governing Documents. Such rights and privileges may not be available to other Investors (including without limitation, transparency rights, reporting rights, capacity rights, approval rights and certain other protections and the right to receive certain special allocations). As of December 31, 2023, Albany Road managed $1,048,510,147 of client assets on a discretionary basis. Albany Road does not currently manage any client assets on a non-discretionary basis.